Feel like you’re a prisoner to an overpriced insurance policy? Believe me, there are lots of people in the same boat.
Having so many choices of insurance companies, it’s nearly impossible to locate the best insurer.
You should take the time to take a look at other company’s rates occasionally because insurance rates change frequently. If you had the best price for Prius coverage on your last policy you can probably find a lower rate today. So just block out anything you think you know about insurance because you’re about to learn how to use online quotes to remove unneeded coverages and save money.
The cost of insuring your cars can be expensive, but there could be available discounts to reduce the price significantly. Larger premium reductions will be automatically applied when you complete an application, but less common discounts must be specifically requested in order for you to get them.
It’s important to understand that many deductions do not apply the the whole policy. The majority will only reduce specific coverage prices like medical payments or collision. Just because it seems like having all the discounts means you get insurance for free, it just doesn’t work that way. Any amount of discount will reduce the amount you have to pay.
For a list of insurers with discount car insurance rates, click here.
Consumers need to have an understanding of some of the elements that help determine your insurance coverage rates. Understanding what controls the rates you pay enables informed choices that may reward you with much lower annual insurance costs.
The following are a partial list of the pieces insurance coverage companies consider when setting rates.
When it comes to buying the right insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Each situation is unique so your insurance needs to address that. These are some specific questions may help you determine whether or not you might need an agent’s assistance.
If you don’t know the answers to these questions then you might want to talk to a licensed agent. To find an agent in your area, take a second and complete this form or you can also visit this page to select a carrier
Knowing the specifics of your policy aids in choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. Shown next are typical coverages available from car insurance companies.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP kick in for expenses such as dental work, chiropractic care and rehabilitation expenses. They can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not an option in every state and may carry a deductible
This can cover damage or injury you incur to a person or their property by causing an accident. It protects YOU against claims from other people, and does not provide coverage for your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 100/300/100 which means a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Some companies may use a combined limit that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage pays for claims like bail bonds, repair bills for other people’s vehicles, repair costs for stationary objects, structural damage and emergency aid. How much liability coverage do you need? That is a personal decision, but you should buy higher limits if possible.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This provides protection from other drivers when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Toyota Prius.
Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important. Frequently these limits are set the same as your liablity limits.
Comprehensive auto coverage
Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims such as rock chips in glass, a broken windshield, damage from a tornado or hurricane, falling objects and fire damage. The maximum amount your car insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Collision coverage protection
Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.
Collision insurance covers claims like scraping a guard rail, crashing into a building and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are 8 years or older. You can also choose a higher deductible to save money on collision insurance.
When shopping online for car insurance, make sure you don’t reduce needed coverages to save money. There are many occasions where an insured cut liability limits or collision coverage only to find out that the savings was not a smart move. The proper strategy is to buy the best coverage you can find at the best price while not skimping on critical coverages.
Affordable 2010 Toyota Prius insurance can be sourced both online and with local insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some companies do not offer online price quotes and these regional insurance providers work with independent agents.
Much more information about car insurance can be found at these links: